Why is it hard to find a good property manager?

[Katrina M.]

The recurring theme on Bigger Pockets is how hard it is to find a good property manager. There were also several topics when people were gouged by their property managers for small amounts like $200 and larger sums.

What is the reason that prevents the vast majority of property managers from doing good service?

I can only assume that it is the fee that makes it not interesting for them to put effort. Obviously, it does not make much financial sense for them to charge all the money they want openly and they have to resort to hidden fees.

Hence the questions:

1) What is the biggest most time-consuming task that can make the Property Manager cringe and think “I should charge more for it”?

2) Is there a solution to the problem of poor PM service apart from not hiring a property manager?

3) What would you, property investor, be happy to pay if you got a great service?

4) What would you be prepared to compromise on?

5) @Brian Adams mentioned a few times in his famous thread how he trains his property managers. What kind of training do you think property managers need?

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In every field there are companies delivering good and bad service. I know there are good property managers on Bigger Pockets and hope they can unveil the reasons why others haven’t been able to do just as well.